v3.23.2
Debt
 6 Months Ended
Jun. 30, 2023
Debt Disclosure [Abstract]  
Debt Debt
Our total debt, including short-term and long-term debt, consisted of the following (in millions):
As of June 30, 2023As of December 31, 2022
Debt:
Short-term debt:
Other short-term debt$— $4 
Total short-term debt— 4 
Long-term debt:
2025 Senior Notes (3.65% senior unsecured notes due May 23, 2025)
1,245 1,243 
2025 Senior Notes (3.75% senior unsecured notes due December 1, 2025)
1,248 1,247 
2027 Senior Notes (4.00% senior unsecured notes due September 15, 2027)
1,488 1,487 
2027 Senior Notes (3.10% senior unsecured notes due September 15, 2027)
498 498 
2028 Senior Notes (3.75% senior unsecured notes due September 21, 2028)
595 594 
2029 Senior Notes (4.35% senior unsecured notes due June 15, 2029)
1,240 1,240 
2030 Senior Notes (2.10% senior unsecured notes due June 15, 2030)
1,237 1,235 
2032 Senior Notes (1.85% senior unsecured notes due September 15, 2032)
1,485 1,485 
2033 Senior Notes (4.60% senior unsecured notes due March 15, 2033)
1,488 1,488 
2040 Senior Notes (2.65% senior unsecured notes due September 15, 2040)
1,232 1,231 
2048 Senior Notes (4.25% senior unsecured notes due September 21, 2048)
1,232 1,231 
2050 Senior Notes (3.00% senior unsecured notes due June 15, 2050)
1,221 1,221 
2052 Senior Notes (4.95% senior unsecured notes due June 15, 2052)
1,465 1,464 
2060 Senior Notes (3.00% senior unsecured notes due September 15, 2060)
1,471 1,471 
2062 Senior Notes (5.20% senior unsecured notes due June 15, 2062)
983 983 
Total long-term debt18,128 18,118 
Total debt $18,128 $18,122 

Our senior notes of $18.1 billion have a weighted average maturity of 16 years and a weighted average cost of 3.6% per annum.
Credit Facilities
We have a $3.9 billion senior unsecured revolving credit facility, or the Credit Facility, with a maturity date of May 25, 2027, with future capacity to increase our borrowings under the Credit Facility by an additional $1.0 billion, subject to the consent of the lenders funding the increase and certain other conditions. No amounts were outstanding under the Credit Facility as of June 30, 2023.
As of June 30, 2023, of the $3.9 billion that was available for borrowing under the Credit Facility, $171 million was required to support certain broker-dealer and other subsidiary commitments. We did not have any amounts outstanding under our U.S. dollar commercial paper program, or the Commercial Paper Program, as of June 30, 2023. Therefore, there was not an amount required to backstop the Commercial Paper Program. The amount required to backstop the amounts
outstanding under the Commercial Paper Program will fluctuate as we increase or decrease our commercial paper borrowings. The remaining $3.7 billion was available for working capital and general corporate purposes including, but not limited to, acting as a backstop to future amounts outstanding under the Commercial Paper Program.
We have a $2.4 billion two-year senior unsecured delayed draw term loan facility, or the Term Loan, with a maturity date of May 25, 2024. Draws under the Term Loan bear interest on the principal amount outstanding at either (a) Term Secured Overnight Financing Rate, or Term SOFR, plus an applicable margin plus a credit spread adjustment of 10 basis points or (b) a "base rate" plus an applicable margin. The applicable margin ranges from 0.625% to 1.125% for Term SOFR loans and from 0.000% to 0.125% for base rate loans, in each case, based on a ratings-based pricing grid. We expect to use the proceeds from borrowings under the Term Loan to fund a portion of the purchase price for the Black Knight acquisition. We have the option to prepay outstanding amounts under the Term Loan in whole or in part at any time. No amounts were outstanding under the Term Loan as of June 30, 2023.
Our India subsidiaries maintain $14 million of credit lines for their general corporate purposes. As of June 30, 2023, there were no amounts outstanding under these credit lines.
Commercial Paper Program
Our Commercial Paper Program is currently backed by the borrowing capacity available under the Credit Facility, as described above. The effective interest rate of commercial paper issuances does not materially differ from short-term interest rates, which fluctuate due to market conditions and as a result may impact our interest expense. We did not have any notes outstanding under our Commercial Paper Program as of June 30, 2023.